https://www.taxtmi.com/caselaws?id=415190 The High Court of Calcutta upheld the Tribunal's decision, ruling against the Revenue on the substantial question of law. The Court found that the assessing officer's decision to allow the deduction claimed by the assessee was based on proper enquiries and a possible view, making the Commissioner's assumption of jurisdiction under Section 263 incorrect. The Court emphasized the necessity of clarity in invoking power under Section 263 and concluded that there was no error in the assessment process, ultimately dismissing the appeal. en-us Tue, 23 Nov 2021 00:00:00 +0530 Mon, 29 Nov 2021 08:59:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415190 The High Court of Calcutta upheld the Tribunal's decision, ruling against the Revenue on the substantial question of law. The Court found that the assessing officer's decision to allow the deduction claimed by the assessee was based on proper enquiries and a possible view, making the Commissioner's assumption of jurisdiction under Section 263 incorrect. The Court emphasized the necessity of clarity in invoking power under Section 263 and concluded that there was no error in the assessment process, ultimately dismissing the appeal. Case-Laws Income Tax Tue, 23 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415190